Fourth Partner Energy raises $125m for solar

India’s Fourth Partner Energy has raised $125m from Norway’s Norfund and TPG Capital.

Fourth Partner Energy is a solar energy company that is currently building solar parks in Uttar Pradesh, Maharashtra and Tamil Nadu. The investment includes $100m from from Norwegian Investment Fund, Norfund and $25m from The Rise Fund, TPG’s global impact investing platform. The new funds will be raised for expansion in domestic and international markets.

“Fourth Partner Energy is now strengthening its onsite and offsite solar presence in the subcontinent; as well as key markets across South and Southeast Asia. The company is targeting 3 GW of installed solar capacity by 2025 and expansion of capabilities across energy storage, EV charging infrastructure,” a statement said.